CCM Investment Advisers LLC Sells 483 Shares of The Sherwin-Williams Company (NYSE:SHW)

CCM Investment Advisers LLC decreased its stake in The Sherwin-Williams Company (NYSE:SHW) by 1.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,840 shares of the specialty chemicals company’s stock after selling 483 shares during the period. Sherwin-Williams accounts for approximately 1.7% of CCM Investment Advisers LLC’s holdings, making the stock its 29th largest position. CCM Investment Advisers LLC’s holdings in Sherwin-Williams were worth $13,563,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SHW. Vanguard Group Inc. grew its position in shares of Sherwin-Williams by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 21,836,648 shares of the specialty chemicals company’s stock valued at $7,422,932,000 after acquiring an additional 138,170 shares during the period. FMR LLC lifted its stake in Sherwin-Williams by 1.6% in the 4th quarter. FMR LLC now owns 6,588,755 shares of the specialty chemicals company’s stock valued at $2,239,715,000 after purchasing an additional 106,093 shares during the last quarter. Geode Capital Management LLC lifted its stake in Sherwin-Williams by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 4,829,702 shares of the specialty chemicals company’s stock valued at $1,636,679,000 after purchasing an additional 96,571 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Sherwin-Williams by 2.0% during the fourth quarter. Alliancebernstein L.P. now owns 4,316,000 shares of the specialty chemicals company’s stock worth $1,467,138,000 after purchasing an additional 86,268 shares during the period. Finally, Norges Bank acquired a new position in Sherwin-Williams during the fourth quarter worth approximately $1,359,747,000. Institutional investors and hedge funds own 77.67% of the company’s stock.

Analyst Upgrades and Downgrades

SHW has been the subject of a number of recent analyst reports. UBS Group cut their price objective on Sherwin-Williams from $430.00 to $400.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Wells Fargo & Company raised Sherwin-Williams from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $350.00 to $420.00 in a report on Wednesday, April 30th. Royal Bank of Canada upped their price objective on shares of Sherwin-Williams from $410.00 to $420.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. Mizuho set a $395.00 target price on shares of Sherwin-Williams in a research note on Tuesday, April 15th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $380.00 price target (down previously from $423.00) on shares of Sherwin-Williams in a research note on Monday, March 10th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $397.67.

Sherwin-Williams Stock Down 0.3%

Shares of NYSE SHW opened at $356.16 on Friday. The stock has a market capitalization of $89.25 billion, a P/E ratio of 33.76, a PEG ratio of 2.98 and a beta of 1.21. The stock’s fifty day moving average is $347.71 and its 200 day moving average is $352.35. The Sherwin-Williams Company has a 52 week low of $292.27 and a 52 week high of $400.42. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.46 and a current ratio of 0.79.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $2.25 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.02. The business had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.42 billion. Sherwin-Williams had a return on equity of 74.50% and a net margin of 11.61%. Sherwin-Williams’s revenue was down 1.1% compared to the same quarter last year. During the same period last year, the firm posted $2.17 earnings per share. Sell-side analysts forecast that The Sherwin-Williams Company will post 12 earnings per share for the current fiscal year.

Sherwin-Williams Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 16th were issued a dividend of $0.79 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.89%. Sherwin-Williams’s dividend payout ratio (DPR) is presently 29.87%.

Sherwin-Williams Profile

The Sherwin-Williams Company engages in the development, manufacture, distribution, and sale of paints, coating, and related products to professional, industrial, commercial, and retail customers. It operates through three segments: Paint Stores Group, Consumer Brands Group, and Performance Coatings Group.